XLM Technical Analysis: The First Steps To Change The Trend

The global XLM price correction is quite nice and in the classic pattern. Starting from April 2021, the XLM price is clearly moving in a wedge. The first fall wave within this wedge began in May 2021 and was quite aggressive. The weakness of the second fall wave from November 2021 is expressed both in the lazy local lows update and in trading volumes. At the moment, buyers are able to organize deep corrections up, and sellers are unable to aggressively update local lows. This trend is leading to a global market reversal. https://www.tradingview.com/x/ddjxPY0M/ The worst-case scenario at the time of writing is the retention of $0.27 by sellers and another fall wave to $0.13. This scenario is quite real, given the trading volumes in the weekly timeframe. However, even such trouble for investors will not be a problem to start forming a new growth wave with the first global target of $0.4. At the moment, our main global scenario is a global consolidation of the XLM price in the range of $0.13-$0.4. Therefore, we do not expect to update the XLM historical high in the near future. XLM Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/OUUxxBtk/ Analyzing the XLM price movement on the daily timeframe, you can see the total absence of sellers, starting from 14 March. Buyers without any problems, due to low trading volumes raised the XLM price by 34%. Given the lack of struggle, the XLM price growth will easily con...